Perceptions and challenges of using smart wallet In the context of microfinance On small entrepreneurs in Gorontalo city

 

Rahmat Nasila1* …….2

1Bataan Peninsula State University, Balanga Campus, College of Education, Philippines

2University of Toronto, St. George Campus, College of Science, Canada

1  https://orcid.org/0000-0002-1825-0097

2  https://orcid.org/0000-0002-1825-0099

*corresponding author: rahmat131@ubmg.ac.id

 

Abstract

This research aims to explore the perceptions of small entrepreneurs in Gorontalo City regarding the use of smart wallets in managing their business finances, as well as identifying the challenges faced in implementing smart wallets in the context of microfinance. The main focus of this research is on an in-depth understanding of the views and experiences of small entrepreneurs regarding the benefits, risks and barriers in adopting smart wallets for their business activities.

This research uses a qualitative approach with in-depth interview methods and observations of small entrepreneurs in Gorontalo City. The data obtained was analyzed by following the Miles and Huberman data analysis model, which includes data reduction, data presentation, and conclusion drawing. The data collection process is carried out until it reaches the saturation point, where no significant new information is found.

The research results show that the majority of small entrepreneurs in Gorontalo City have a positive perception of the use of smart wallets in managing their business finances, considering smart wallets as a practical, safe and efficient payment tool. However, several significant challenges were also identified, such as internet connectivity issues, difficulties in understanding features and operations, burdensome transaction fees, security risk and fraud concerns, and difficulty changing consumer preferences. Other challenges include a lack of outreach and education, obstacles to integration with business bookkeeping systems, and limited access to and ownership of supporting equipment

Keywords: Microfinance, Perception of Small Entrepreneurs, Adoption Challenges


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